Short Interest in First Trust California Municipal High Income ETF (NASDAQ:FCAL) Expands By 189.6%

First Trust California Municipal High Income ETF (NASDAQ:FCAL) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 33,451 shares, a growth of 189.6% from the June 15th total of 11,549 shares. Based on an average daily volume of 21,113 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.7% of the shares of the stock are sold short.

First Trust California Municipal High Income ETF Price Performance

NASDAQ FCAL traded down $0.01 during mid-day trading on Wednesday, hitting $49.46. The stock had a trading volume of 965 shares, compared to its average volume of 20,276. The firm’s 50 day moving average is $49.43 and its 200 day moving average is $49.46. First Trust California Municipal High Income ETF has a twelve month low of $47.35 and a twelve month high of $50.13. The stock has a market capitalization of $222.57 million, a price-to-earnings ratio of 130.16 and a beta of 0.25.

First Trust California Municipal High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.143 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. First Trust California Municipal High Income ETF’s dividend payout ratio is presently 434.21%.

Hedge Funds Weigh In On First Trust California Municipal High Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of FCAL. Royal Bank of Canada grew its stake in First Trust California Municipal High Income ETF by 2.4% during the 1st quarter. Royal Bank of Canada now owns 130,218 shares of the financial services provider’s stock valued at $6,321,000 after acquiring an additional 3,039 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $467,000. Raymond James Financial Inc. acquired a new position in shares of First Trust California Municipal High Income ETF during the 2nd quarter worth approximately $570,000. Jane Street Group LLC grew its position in shares of First Trust California Municipal High Income ETF by 171.0% in the second quarter. Jane Street Group LLC now owns 88,954 shares of the financial services provider’s stock valued at $4,267,000 after purchasing an additional 56,132 shares in the last quarter. Finally, CLG LLC grew its position in shares of First Trust California Municipal High Income ETF by 62.8% in the second quarter. CLG LLC now owns 7,080 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 2,732 shares in the last quarter. 54.39% of the stock is owned by hedge funds and other institutional investors.

First Trust California Municipal High Income ETF Company Profile

First California Financial Group, Inc is a bank holding company for its wholly owned subsidiary First California Bank (the Bank). The Bank is a full-service commercial bank. The Bank’s operations are primarily located within the areas commonly known as the 101 corridor stretching from the City of Ventura to Calabasas, California, the Moorpark-Simi Valley corridor, the western San Fernando Valley, the Tri-Cities area of Glendale-Burbank-Pasadena, the South Bay, the Inland Empire, north San Diego County, Century City and other parts of Los Angeles, Orange San Luis Obispo and Ventura Counties in Southern California.